What Happened to Europe's Collapse? By Michael Elliott, contributor September 17, 2010: 5:30 AM ET More at the link. Its a short read about how everyone had predicting a collapse of the EU economy. Why I find it interesting is that folks around here often point to Europe as an example of the "Failures of Socialism." And yet, facing one of the worst global economies in decades, Europe has hardly collapsed. It hasn't fared worse than us. If anything, in Europe they're doing better than us. The question is: Why? I don't honestly have an answer to that. I'm just curious to hear opinions.